Your Empire December Property Market Report

Check out the insights from the three largest capital cities in Australia, Sydney, Chris Gray from Your Empire, Melbourne, Infolio Property from Lauren Staley and Brisbane, from Zoran Solano from Hot Property Buyers Agents.

Key Takeaway Tips

Melbourne -0.8% - Lauren Staley

1. The decline is slowing in the property market

2. Auction Clearance rates in Melbourne were 60-80%

3. Upswings are always larger than downturns - When will the next upswing be????

4. Rental

   1. Land Lords now receiving fair market rate for their rental properties

   2. Immigration is back and putting pressure on the rental market.

5. Buy in the median value in the City - Buy a unit if this is what you can afford.

Brisbane Market - 2% - Zoran Solano

1. The decline is slowing in the property market

2. Buyers can be picky, and more critical of the building and pest inspection

3. More owner-occupiers in Brisbane as the rental market is the tightest in the country.

4. It’s worth renovating your property and holding off selling until mid-next year in Brisbane

   1. Look at your property as a potential investment property instead as the rental market is the tightest in the country.

5. The housing Market is still 28% in the positive since pre-pandemic

6. Interstate migration is the biggest in the country.

7. Buy in the median value in the City

   1. In Brisbane, buying a house over a unit is best if you can.

Sydney - 1.3% - Chris Gray

1. The decline slowing in the property market

2. Still 10% in the positive since pre-pandemic

3. You can’t time the property market - look at it as a long-term investment.

4. Purchase Property when you have the money, as if the interest rates increase, you may not meet the serviceability for a loan.

5. Buy in the median value in the City - Buy a unit if this is what you can afford.

6. Chris Discusses four possible scenarios for 2023 inflation, unemployment and interest rates.

Lauren says to spend the time now while you are on holiday to do your research and see what is on the market; January and February are when the property will return, and they all agree with Tim Lawless that we are reaching the peak of the interest rate rises, and should see the peak in mid-2023. Everyone is putting off buying their house until mid-2023; you might pick up a bargain in early January. Zoran says you can be picky in Brisbane and make a deal, hold off selling and put your property on the rental market and enjoy fantastic yields or take the time to renovate your property; Chris in Sydney says, “Buy” because you can’t time the market and good “Blue Chip Properties” holds their value.

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